African Development Bank approves ZAR 2.5 billion loan to City of Johannesburg for critical urban infrastructure development
First direct lending to a subnational entity in Africa will support water, electricity, and waste management systems for Africa's largest economic hub
The Board of Directors of the African Development Bank Group (www.AfDB.org) has approved a ZAR 2.5 billion (approximately $139 million) corporate loan to the City of Johannesburg Metropolitan Municipality, marking the Bank's first direct lending to a subnational entity in Africa. The transaction will finance critical infrastructure projects in electricity,…